Procore Technologies (NYSE:PCOR) Given New $83.00 Price Target at The Goldman Sachs Group

Procore Technologies (NYSE:PCOR) had its target price boosted by The Goldman Sachs Group from $73.00 to $83.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on PCOR. Jefferies Financial Group boosted their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. JMP Securities reduced their target price on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. KeyCorp lifted their price target on Procore Technologies from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday. DA Davidson reiterated a “neutral” rating and set a $60.00 price objective on shares of Procore Technologies in a research report on Wednesday, October 2nd. Finally, Piper Sandler raised their price objective on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Procore Technologies Trading Up 1.9 %

Shares of PCOR stock opened at $76.68 on Friday. Procore Technologies has a 52-week low of $49.46 and a 52-week high of $83.35. The business’s fifty day moving average is $64.19 and its 200 day moving average is $63.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. On average, equities research analysts anticipate that Procore Technologies will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the transaction, the director now owns 1,360,848 shares in the company, valued at $79,582,391.04. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Fu sold 7,809 shares of Procore Technologies stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $557,250.24. Following the completion of the sale, the chief financial officer now owns 164,188 shares in the company, valued at approximately $11,716,455.68. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,053 shares of company stock valued at $7,426,909 in the last quarter. Insiders own 29.00% of the company’s stock.

Hedge Funds Weigh In On Procore Technologies

A number of institutional investors have recently bought and sold shares of PCOR. GAMMA Investing LLC lifted its stake in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in Procore Technologies in the third quarter worth $26,000. Signaturefd LLC lifted its position in Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Procore Technologies in the 2nd quarter worth about $51,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company’s platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.